This is a 10:12 intraday update of Turov on Timing for Wednesday, November 28, 2012.
Overnight I said, “I would expect to see the market open flat to slightly lower this morning. I then expect it to pick up steam to the upside by mid-morning. Stand aside for the time being, but I am looking for a spot to go long.”
Consistent with that, TOT daily traders are advised to go 200% long at SPX 1392 stop OR at SPX 1380 limit, OR at the market at 10:45 a.m., whichever occurs first. Once long, use a 1% protective sell stop on the position.
Thanks for the opportunity to be of service, and I’ll update again before the close.
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